Stock of The Day: What’s Next for Methode Electronics Inc. After Making 52-Week High?

Stock of The Day: What's Next for Methode Electronics Inc. After Making 52 Week High?

The stock of Methode Electronics Inc. (NYSE:MEI) hit a new 52-week high and has $40.82 target or 8.00% above today’s $37.80 share price. The 9 months bullish chart indicates low risk for the $1.39 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $40.82 price target is reached, the company will be worth $111.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 52,965 shares traded hands. Methode Electronics Inc. (NYSE:MEI) has risen 25.77% since April 21, 2016 and is uptrending. It has outperformed by 20.44% the S&P500.

Analysts await Methode Electronics Inc. (NYSE:MEI) to report earnings on December, 8. They expect $0.55 EPS, up 1.85% or $0.01 from last year’s $0.54 per share. MEI’s profit will be $20.22M for 17.18 P/E if the $0.55 EPS becomes a reality. After $0.57 actual EPS reported by Methode Electronics Inc. for the previous quarter, Wall Street now forecasts -3.51% negative EPS growth.

Methode Electronics Inc. (NYSE:MEI) Ratings Coverage

Out of 2 analysts covering Methode Electronics (NYSE:MEI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Methode Electronics has been the topic of 3 analyst reports since September 4, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded Methode Electronics Inc. (NYSE:MEI) on Friday, June 24 to “Outperform” rating. The stock of Methode Electronics Inc. (NYSE:MEI) has “Hold” rating given on Friday, September 2 by Craig Hallum. The firm earned “Buy” rating on Friday, September 4 by Craig Hallum.

According to Zacks Investment Research, “Methode Electronics, Inc. manufactures component devices world-wide for Original Equipment Manufacturers of information processing and networking equipment, voice and data communications systems, consumer electronics, automobiles, aerospace vehicles and industrial equipment. Products employ electrical, electronic and optical technologies as sensors, interconnections and controls. The company manufactures bus systems and provides independent laboratory services for qualification testing and certification of electronic and optical components.”

More notable recent Methode Electronics Inc. (NYSE:MEI) news were published by: Quotes.Wsj.com which released: “News Methode Electronics Inc.MEI” on February 11, 2011, also Marketwired.com with their article: “Methode Electronics, Inc. Announces CFO Transition” published on July 21, 2016, Fool.com published: “Why Methode Electronics, Inc. Jumped More Than 20% Thursday” on September 03, 2015. More interesting news about Methode Electronics Inc. (NYSE:MEI) were released by: Fool.com and their article: “Why Shares of Methode Electronics Inc. Fell More Than 30% Today” published on June 25, 2015 as well as Marketwired.com‘s news article titled: “Methode Electronics, Inc. Reports Fiscal 2017 First-Quarter Sales and Earnings” with publication date: September 01, 2016.

MEI Company Profile

Methode Electronics, Inc. (Methode), incorporated on April 27, 1966, is a maker of component and subsystem devices. The Firm designs, makes and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Firm operates through divisions, including Automotive, Interface, Power Products and Other. The Firm has manufacturing, design and testing facilities in China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, the United Kingdom and the United States. The Company’s components are found in end markets of the aerospace, appliance, automotive, battery storage, construction, consumer and industrial equipment, communications (including information processing and storage, medical device, networking equipment, wireless and terrestrial voice/data systems), rail and other transportation industries.

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